Commercial Refinance

Refinancing refers to the replacement of an existing debt obligation with a new debt obligation. Refinancing may be undertaken to reduce interest costs (by refinancing at a lower rate), to replace a maturing loan, to extend the repayment time, to pay off other debts, to reduce periodic payment obligations (sometimes by taking a longer-term loan), to reduce or alter risk (such as by refinancing from a variable-rate to a fixed-rate loan), and to raise cash for reinvestment in additional properties